BFC cash injection

Discussion in 'Bulletin Board' started by Archerfield, Oct 30, 2023.

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  1. Arc

    Archerfield Well-Known Member

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    Latest companies house shows another equity raise representing the rights not taken up by the other shareholders. A further 5901 shares issued for £200. Meaning a further £1.18m in to the club on top of the previous £2.419m. Total raised £3.6m.

    A further indication I would think @Exile that Khaled is increasing his ownership of the club and Conway and Lee are on their way out.

    I did mean Neerav!!
     
    Last edited: Oct 30, 2023
    Archerfield, Oct 30, 2023
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  2. red

    redrum Banned Idiot

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    Khaled you mean nareev?
     
    redrum, Oct 30, 2023
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  3. tosh

    tosh Well-Known Member

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    Ha ha. Khaled??????
     
    tosh, Oct 30, 2023
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  4. troff

    troff Well-Known Member

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    I assume you mean Neerav Parekh? Khaled is just a paid employee and probably not for that much longer if rumours of a move to Sweden are true.
     
    troff, Oct 30, 2023
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  5. Arc

    Archerfield Well-Known Member

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    I did, been a long day!!
     
    Archerfield, Oct 30, 2023
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  6. Willster206

    Willster206 New Member

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    I would have thought with the sale of Kitching we wouldn't need any further cash injections for a while. Unless this is just being done to reduce Conway and Lees stake in the club?

    Worrying if we needed a 1m cash injection, 2 months after raising at least 5m in player sales, to keep the club running.
     
    Willster206, Oct 30, 2023
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  7. Tarntyke

    Tarntyke Well-Known Member

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    The money from player sales will come in instalments not all at once
     
    Tarntyke, Oct 30, 2023
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  8. Sup

    SuperTyke Well-Known Member

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    Gave me a bloody heart attack
     
    SuperTyke, Oct 30, 2023
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  9. Willster206

    Willster206 New Member

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    True, but surely whatever debts we are paying can be paid in installments too?
     
    Willster206, Oct 30, 2023
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  10. Sup

    SuperTyke Well-Known Member

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    This is something I never understand about football. People always say that the money coming in from player sales is in installments but aren't signings and wages also basically in installments too?
     
    SuperTyke, Oct 30, 2023
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  11. Exi

    Exile Well-Known Member

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    Yes, definitely - there was a further 'Return of Allotment' notified on the Hong Kong Companies site on Friday. It isn't yet available to view (usually takes them about a week to load it up) but I'll keep an eye out and I'm sure it will confirm what you've set out.
     
    Exile, Oct 30, 2023
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  12. lk3

    lk311 Well-Known Member

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    Wasn’t there something about a Covid loan to pay back?
    Perhaps that explains?
     
    lk311, Oct 30, 2023
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  13. Bri

    Brian Mahoneys Waist Well-Known Member

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    Isn't Khaled a director as well as CEO?
     
    Brian Mahoneys Waist, Oct 30, 2023
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  14. Arc

    Archerfield Well-Known Member

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    No, Khaled, despite my **** up, is just an employee
     
    Archerfield, Oct 30, 2023
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  15. Che

    Chef Tyke Well-Known Member

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    directorship doesn’t equate ownership mate
     
    Chef Tyke, Oct 30, 2023
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  16. Hooky feller

    Hooky feller Well-Known Member

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    Not wages. And day to day running. Ask Reading.
     
    Last edited: Oct 30, 2023
    Hooky feller, Oct 30, 2023
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  17. Hooky feller

    Hooky feller Well-Known Member

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    Wages are not annual. Instalments can be at lengthy intervals. Also by issuing new shares I think can reduce or enlarge the % ownership of the club. Might be a tactical move.
     
    Hooky feller, Oct 30, 2023
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  18. Shy Talk

    Shy Talk Well-Known Member

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    Based on the holdings prior to this, if Neerav has indeed taken up these shares, he must now be very close to having sole overall control of the club.
     
    Shy Talk, Oct 30, 2023
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  19. Hooky feller

    Hooky feller Well-Known Member

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    Would the rest of the board allow that to happen. ?
     
    Hooky feller, Oct 30, 2023
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  20. Shy Talk

    Shy Talk Well-Known Member

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    To prevent it they'd have to pick up those shares themselves. And maybe they have, we don't seem to know yet who actually took them up.
    But if Neerav has put his money up and the others haven't...
     
    Shy Talk, Oct 30, 2023
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